Real Estate Up-Down Contracts, Delayed Reports, Suspected Gifts... Gyeongju City Detects 24 Cases of False Real Transaction Reports

Gyeongju City in Gyeongbuk conducted a thorough investigation of 350 suspected real estate transaction cases over the past year and identified 24 violations.

Gyeongju City carried out intensive and detailed investigations through the Real Transaction Management System (RTMS) real transaction price monitoring, voluntary reports and related party accusations, the Real Estate Transaction Order Disruption Reporting Center, and other internal investigations.

As a result of the investigation, five cases of up/down contract reporting (9 people), one case of contract date violation (2 people), and 14 cases of delayed reporting (23 people) were fined a total of 67 million KRW, while four suspected gift cases (8 people) were reported to the tax office and prosecuted by the police.

Additionally, cooperation was requested from the Gyeongju branch of the Korea Association of Realtors and the Gyeongju branch of the Daegu-Gyeongbuk Regional Bar Association to eradicate transaction violations.

Choi Jeong-su, Director of the Land Information Division, stated, “This year as well, we are continuously conducting detailed investigations of real estate transactions to maintain a sound and transparent real estate transaction order. We will do our best to stabilize real estate transactions through active investigations so that honest citizens do not suffer any damage.”

Gyeongju City Hall.

This content was produced with the assistance of AI translation services.